RPT-Japan cabinet approves Tepco compensation scheme

Mon Jun 13, 2011 7:46pm EDT

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TOKYO, June 14 (Reuters) - Japanese cabinet ministers on Tuesday approved a scheme to help Tokyo Electric Power compensate people affected by the crisis at its quake-hit Fukushima nuclear plant.

Trade minister Banri Kaieda said he wants to submit the compensation bill to parliament as soon as possible.

In the scheme, whose framework was already announced a month ago, a fund will be set up to help finance Tepco's massive compensation bill so that the regional power monopoly in Tokyo and surrounding areas can keep operating.

Japan's other nuclear power operators will be required to make annual contributions to the fund and the government will also inject money into the fund if necessary. Tepco will reimburse the fund in coming years. (Reporting by Yoko Kubota; Editing by Chris Gallagher)

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